Tern PLC (LON:TERN), the investment company specialising in the cloud and the Internet of Things, has announced a number of senior management changes.
Founder Angus Forrest is standing down as chairman to become the company’s operations director. The company has kicked off a search for a new chairman, but in the meantime Al Sisto, Tern’s chief executive officer, will also handle chairman duties.
Founding director Bruce Leith has become the company’s business development director, and will focus on identifying, developing and cultivating companies that meet Tern’s investment criteria.
"Tern has a very clear focus and is committed to adding value to its investments and thereby generating value for its shareholders," said Sisto, who became chief executive officer of Tern in September.